US solar firm to build $300 mln Vietnam plant

Jan 26, 2011
An employee makes a final check on a solar panel at the Renewable Energy Corporation (REC) factory in Singapore in November. A US solar panel maker Wednesday said it will build a $300 million factory in Vietnam, boosting the country's efforts to reinvent itself as a hub for high-tech manufacturing.

A US solar panel maker Wednesday said it will build a $300 million factory in Vietnam, boosting the country's efforts to reinvent itself as a hub for high-tech manufacturing.

Arizona-based First Solar said Vietnamese authorities had approved the investment in Ho Chi Minh City's Cu Chi district, in the south of the country.

The facility will employ around 600 people and production is expected to begin in the second half of next year, a company spokeswoman told AFP.

is still a rural-based society that has relied on natural resources and unskilled labour to achieve growth. But the country's communist leaders now speak of moving to a more technologically advanced system of production.

"You're seeing more and more high-tech firms come into Vietnam," outgoing United States ambassador Michael Michalak said at his farewell press conference this month. He cited First Solar's plans as an example.

In October the US-based chip maker opened a billion-dollar plant in Ho Chi Minh City.

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knikiy
not rated yet Jan 26, 2011
That's right AZ, send those jobs overseas.
Lord_jag
not rated yet Jan 29, 2011
Come now. We know American's don't want jobs.

At least not when the jobs pay $0.35/hour.